What are the advantages of Icon?
- Simplified process for employees to set up an IRA without the need to utilize tedious paper forms or an over-complicated online questionnaire.
- Employees make all the contributions. There are no employer contributions.
- Many employees find smaller, regular contributions a more manageable way to save.
- No recurring administrative costs.
- No filings with the government to establish the program or any annual reports.
- No minimum number of employees required.
- Icon is not considered an employer retirement plan subject to Federal reporting and fiduciary responsibility requirements if the employer keeps its involvement to a minimum.
- May help attract and retain quality employees by offering Icon as a simple, portable retirement solution.